The number of SIP accounts was at an all-time high of 126.96.36.1996 in February 2022 compared to 5.04.84.467 in January 2022, which is a healthy sign for the mutual fund industry, said NS Venkatesh, Chief Executive, Association of Mutual Funds in India (AMFI ).
“In order to maintain the long-term investment objective, investors continue to choose SIPs for savings-related investments. The market situation in India is not bad and is in a short-term correction,” he said. Mr. Venkatesh said that the outflow of income/debt funds reflects the current market dynamics, the ongoing interest rate scenario in the market and the geopolitical tensions between Russia and Ukraine.
He added, “The inflow into equity markets, despite the modest decline, is a hugely positive sign that didn’t do much more than reflect the fall in mark-to-market values.”